ISLAMABAD: To collect an estimated $1.5 billion and sell these public assets to Qatar directly in order to avert a potential sovereign default, the government surreptitiously delisted two power facilities that had been put on an active list for privatization over four years ago.
The change occurred two days after the administration established a new cabinet committee with the goal of selling public assets quickly. This committee will now be given the 2460 MW LNG-fired power stations so that it can locate a suitable overseas buyer.
According to sources, the PCB meeting was convened on Thursday to discuss the removal of the plants from the privatization proposal. Abid Hussain Bhayo, the minister for privatization and board chairman, presided over the meeting despite not being physically present in the city.
The PCB often makes a news release following a board meeting, but this time no statement was made, ostensibly to maintain the privacy of the topic.
Requests for comments were not answered by the secretary of privatization or the minister of privatization. According to the sources, the board has advised the Cabinet Committee on Privatization to remove the power plants from the list of facilities eligible for privatization (CCOP).